Ormeau, QLD

Residential Development Site with DA pending

The purpose of the Loan was to refinance a previous Balmain Discrete Mortgage Income Trusts (BDMIT) sub-trust known as the Eggersdorf Road No. 4 Sub-Trust. The Borrower conducted the previous sub-trust in a prompt and punctual manner and in accordance with loan documentation.

The Security Property is well located in Ormeau, 5 minutes' drive from the Ormeau Town Centre which is anchored by Woolworths. 

A Development Application approval for a residential subdivision is expected by mid 2024.

The sole director of the Borrower is an experienced property professional with over 20+ years’ experience.

• The Loan was advanced at a Loan to Value Ratio of 55%. 
• The Target Return is 9.45% p.a., net of fees and expenses, and is paid to Investors monthly in arrears. 
• The Loan is secured by first registered mortgage, unlimited personal guarantee and a General Security Agreement over the Borrower. 
• Interest for the Term of the Loan has been lodged on deposit with the Manager.  
• The Loan Term is 6 months from 28 March 2024 to 27 September 2024 (subject to early or late repayment).  

Investment Details

• Target Return

  9.45% net

• Loan to Value Ratio

  55%

• Term

  4 Months

Full details, unique to each investment, are provided to Investors in a Supplementary PDS. These detailed Supplementary PDS’s are only available to Investors in Balmain Private.

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